Year-on-Year Growth Rates, All Items
July 2015 - July 2016

Year-on-Year

The annual increase in the General Wholesale Price Index (GWPI) at the national level continued to move up at a slower pace by 0.2 percent in July 2016. Last month, it was recorded at 0.3 percent. However, it dropped by 3.7 percent in July 2015. The slowdown resulted from an annual decline of 9.8 percent in mineral fuels, lubricants and related materials index. In addition, slower annual gains were noted in the heavily-weighted food index at 2.8 percent; beverages and tobacco index, 1.9 percent; crude, materials, inedible except fuels index, 18.1 percent; manufactured goods classified chiefly by materials, 0.2 percent; and miscellaneous manufactured articles, 1.5 percent. Meanwhile, higher annual increments were observed in chemicals including animal and vegetable oils and fats index, 3.9 percent; and machinery and transport equipment index, 0.3 percent (Table 1.2).

• In Mindanao, the annual growth in GWPI slowed to 0.8 percent in July 2016. Last month, it was at 0.9 percent and in July 2015, -2.2 percent. This was brought about by an annual drop of 9.7 percent in mineral fuels, lubricants and related materials index and -0.1 percent for both manufactured goods classified chiefly by materials index and machinery and transport equipment index. Moreover, slow-paced annual growths were seen in the indices of food at 3.5 percent; and crude materials, inedible except fuels, 19.4 percent. On the other hand, upward adjustments were registered in chemicals including animal and vegetable oils and fats index at 0.4 percent; and miscellaneous manufactured articles index, 1.0 percent. That for beverages and tobacco index remained 0.5 percent for three consecutive months (Table 4.2).
  
• The annual change of GWPI in Visayas accelerated to 2.5 percent in July 2016. In June 2016, the rate was -0.1 percent and in July 2015, -1.9 percent. Faster annual gains were exhibited in the indices of food at 6.2 percent; chemicals including animal and vegetable oils and fats, 4.2 percent; and machinery and transport equipment, 0.4 percent. However, annual growth in beverages and tobacco index eased to 1.3 percent; crude materials, inedible except fuels index, 7.9 percent; and miscellaneous manufactured articles index, 0.8 percent. Moreover, annual decreases were observed in the indices of mineral fuels, lubricants and related materials at -5.2 percent; and manufactured goods classified chiefly by materials, -1.2 percent (Table 3.2).
  

• In Luzon, the GWPI declined by 0.1 percent in July 2016. Last month, it posted 0.2 percent and in July 2015, -4.1 percent. The annual change of mineral fuels, lubricants and related materials index contracted by 10.1 percent. Also contributing to the downtrend were slowdowns in the annual increments noted in the indices of the following commodity groups: food (2.2%); beverages and tobacco (2.2%); crude materials, inedible except fuels (19.1%); and miscellaneous manufactured articles (1.7%). Meanwhile, annual gains were higher in the indices of manufactured goods classified chiefly by materials, 0.4 percent and machinery and transport equipment, 0.3 percent. The chemicals including animal and vegetable oils and fats index remained at 4.3 percent (Table 2.2).
  

• By Commodity Group, Month-on-Month

  Measured from a month ago level, the GWPI in the Philippines dropped by 0.3 percent in July 2016. Last month, it recorded 0.8 percent growth. Declines were noted in the crude materials, inedible except fuels index and mineral fuels, lubricants and related materials index both at -1.7 percent. A slower increment of 0.3 percent was also noted in chemicals including animal and vegetable oils and fats index. On the other hand, manufactured goods classified chiefly by material index maintained its previous month’s rate of 0.1 percent, while the rest of the commodity groups exhibited a flat growth during the month (Table 1.1).

  Rollbacks in the prices of gasoline, kerosene and diesel oil effected the 1.4 percent decline in mineral fuels, lubricants and related materials index in Visayas. Similarly, the group’s index in Luzon fell by 1.8 percent due to downward adjustments in the prices of gasoline, kerosene, diesel oil, and crude oil. Furthermore, reductions in the prices of LPG during the month caused a 0.6 percent dropped in its group’s index in Mindanao. At the national level, the index went down by 1.7 percent.

  The crude materials, inedible except fuels index in Luzon went down by 1.5 percent as prices of copra decreased during the month. Likewise, lower prices of copra, firewood, and pebbles resulted to a 4.2 percent decline in the group’s index in Visayas. However, a 0.4 percent increase in the group’s index in Mindanao was observed. This was brought about by the upward adjustments in the prices of firewood and charcoal. For the Philippines, the index contracted by 1.7 percent.

  Prices of selected concrete products, selected glass products, lumber, and tires and inner tubes for tire in Luzon were higher during the month. Thus, the index for manufactured goods classified chiefly by materials in the area inched up 0.1 percent. On the other hand, price cuts in cement, hollow blocks, plywood, selected wood products, some glass products, selected paper products, and selected textile mill products pushed down the group’s index in Visayas by 0.6 percent. Meanwhile, prices of manufactured goods classified chiefly by materials items in Mindanao generally remained stable during the period as its index had a flat growth. At the country level, the index registered an increment of 0.1 percent.

  The index for chemicals including animal and vegetable oils and fats rose 4.1 percent in Visayas as prices of coconut oil, paints, and selected medicinal and pharmaceutical preparations went up in the area during the period. In Mindanao, price upticks in some medical and pharmaceutical preparations resulted to a 0.1 percent growth in its group’s index in the area. On the contrary, lower prices of coconut oil in Luzon caused a 0.1 percent decrease in the group’s index during the period. At the national level, group’s index grew by 0.3 percent.

  Note:

  GWPI by sub-group for Luzon, Visayas, Mindanao and at the national level are also available upon request at PSA, Price Statistics Division (Telephone Number: 376-1959).